Core Data and Event Analysis for the Super Week
The upcoming week will see a dense window of key data releases and events, featuring "PMI + ADP Employment + Central Bank Rate Decision" — each with the potential to break the current range-bound market pattern for gold:
Nov 3: Global Manufacturing PMIs
Market expectations point to a reading of 49.2 for the U.S. October ISM Manufacturing PMI, while China’s SPGI Manufacturing PMI is projected to remain below the 50.0 expansion-contraction threshold at around 49.0%.
- A U.S. PMI print below 48.5 would reinforce expectations of economic slowdown, fueling bets on monetary easing and lifting gold sentiment.
- A reading above 49.5, however, could further weigh on gold prices by signaling relative economic resilience.
Nov 5: U.S. ADP Employment Report
As a leading indicator for nonfarm payrolls, the ADP report is expected to show 170,000 new jobs added in October.
- If the actual figure falls below 150,000, the probability of a Fed rate cut in December may rise above 70%, directly driving gold to test the 4,040 USD resistance level.
- A print above 200,000 could trigger a pullback in gold to the 3,970 USD support zone.
Nov 6: Bank of England (BoE) Rate Decision
Market sentiment is divided ahead of the BoE meeting: most institutions anticipate rates to stay unchanged at 4.0%, but Goldman Sachs forecasts a 25-basis-point cut.
- Should the BoE initiate an interest rate cut cycle, it would boost global expectations for monetary easing, providing indirect support to gold prices.
Nov 7: Collective Remarks by FOMC Members
Five core members of the U.S. Federal Open Market Committee (FOMC) will deliver speeches. Key focus will be on their comments regarding a potential December rate cut and inflation trends.
- Hawkish signals (e.g., emphasizing persistent inflationary pressures) may trigger a short-term correction in gold.
- Dovish comments (e.g., noting signs of softening in the labor market) are likely to act as a catalyst for gold to break above key resistance levels.
Next week's trading strategy and analysis
buy：4000-4010
tp:4025-4035-4100
sl:3995
The upcoming week will see a dense window of key data releases and events, featuring "PMI + ADP Employment + Central Bank Rate Decision" — each with the potential to break the current range-bound market pattern for gold:
Nov 3: Global Manufacturing PMIs
Market expectations point to a reading of 49.2 for the U.S. October ISM Manufacturing PMI, while China’s SPGI Manufacturing PMI is projected to remain below the 50.0 expansion-contraction threshold at around 49.0%.
- A U.S. PMI print below 48.5 would reinforce expectations of economic slowdown, fueling bets on monetary easing and lifting gold sentiment.
- A reading above 49.5, however, could further weigh on gold prices by signaling relative economic resilience.
Nov 5: U.S. ADP Employment Report
As a leading indicator for nonfarm payrolls, the ADP report is expected to show 170,000 new jobs added in October.
- If the actual figure falls below 150,000, the probability of a Fed rate cut in December may rise above 70%, directly driving gold to test the 4,040 USD resistance level.
- A print above 200,000 could trigger a pullback in gold to the 3,970 USD support zone.
Nov 6: Bank of England (BoE) Rate Decision
Market sentiment is divided ahead of the BoE meeting: most institutions anticipate rates to stay unchanged at 4.0%, but Goldman Sachs forecasts a 25-basis-point cut.
- Should the BoE initiate an interest rate cut cycle, it would boost global expectations for monetary easing, providing indirect support to gold prices.
Nov 7: Collective Remarks by FOMC Members
Five core members of the U.S. Federal Open Market Committee (FOMC) will deliver speeches. Key focus will be on their comments regarding a potential December rate cut and inflation trends.
- Hawkish signals (e.g., emphasizing persistent inflationary pressures) may trigger a short-term correction in gold.
- Dovish comments (e.g., noting signs of softening in the labor market) are likely to act as a catalyst for gold to break above key resistance levels.
Next week's trading strategy and analysis
buy：4000-4010
tp:4025-4035-4100
sl:3995
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💎 Free Trading Signals: t.me/+e1D3W7yOpLMzNTYx
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.